Cycle Capital, a Canadian venture capital fund, also was a new investor in Enerkem, which is based in Montreal.
Enerkem’s existing institutional investors, BDR Capital , Braemar Energy Ventures and Rho Ventures also participated in the financing round.
In December, the US Energy Department awarded Enerkem a $50m clean technology grant for development of a plant in Mississippi that will convert sorted municipal solid waste, agricultural residues and wood into ethanol, methanol and other green chemicals.
